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CNN
Dec 10, 2013 3:30pm PST
, this is the one thing we've achieved for $3 trillion in increases in the deficit. >> you're suggesting for republicans who have just weathered some not fun weather during the first shutdown, you're suggesting for republicans that it's better that they reject a bad medium-term deal or you're saying it's better to go through another shutdown than to accept a bad medium-term deal. >> i'm surprised leadership would even be offering this. we've talked about their again and again. paul ryan's been very clear about that. we need not just short term, but long-term solutions. >> do you feel that paul ryan has sold you out? you saw him at this press conference. he was not saying the things he was saying now. do you feel like paul ryan has sold you out? >> i will not say that, but at the end of the day, spending is going up. if republicans and conservatives have said for years we've been spending too much money, bipartisan usually scares us. that means more spending at the end of the day. will let me ask you a similar question. paul ryan rarely gets credit for work across the aisle, an
Bloomberg
Dec 8, 2013 10:00pm EST
was the reason behind this is deficit and is it is inspected to continue? -- expected to continue? trade deficit was much larger than expected. that is the main cause for the current account balance deficit in october. the current account is not expected to continue in deficit. the weaker yen, that is pushing up energy costs. the trade deficit is expected to continue for the foreseeable future. even with the weaker yen, this'll push up export, but not enough to counter the effect of the higher cost of oil and gas. we are seeing an increase of consumer goods and the materials for housing and consumers to buy more. year, you willt see a lot more. that will push up the trade deficit even more. james in tokyo. thank you. program,g ahead on the the icing on the cake for the baking industry. more on that coming up later. and jpmorgan with a strong performance. when "asiaad to that edge" returns. ♪ .> breaking news an ipo is said to take place in everbright.r billionssaid to seek in hong kong dollars in shares sales. let's see what else is going on. positive news coming out of the u.s.
Al Jazeera America
Dec 10, 2013 11:30am EST
having nowadays is the major drivers of our deficits nowadays are increasingly not on the discretionary side of the budget, but the non-discretionary side of the budget. there is no longer a place where they can make little fixes and kick the can down the road. there has been agreement on medicare, ned sai medicaid, and social security. it's a particular hot potato that neither side wants to touch. and saying that that's how we're going to solve our budget problems, and that's not going to work. >> after the high tide earlier in president obama's years in the white house, hasn't the deficit, which was huge when he came to office, been getting smaller. >> largely on the back--the sequester cuts which were a small but measurable reduction in over all spending, but also because of the fairly large tax hikes that have occurred under obamacare and under the fiscal cliff deal that they struck on new year's day of 2013. it raised taxes on higher income earners. it's been by extracting more from the american people and not by the government controlling it's out of control spending
Al Jazeera America
Dec 5, 2013 9:00am EST
deficit of opportunity is a bigger threat to our future than our rapidly shrinking fiscal deficit. >> david, rapidly shrinking, the deficit is going down. $17 trilli $17 trillion debt and a deficit higher than the one he received from his predecessor? >> the debt is higher. we would be in much better economic shape and young people would have better job opportunities if we weren't shrinking so fast. we have gone from 10%, basically what he inherited down to 4% of the economy and on the way down to 2% by the end of the president's term. if he were not to doing this about spending and we were invest can in the future, in education, research, we are seeing american research going to china and we are not spending tax dollars on basic research, which corporations don't do. >> that's always been done by government. so, neither the finding about young people is surprising, nor is the president's focus. yeah, we have brought down the deficit is what he is saying, significantly, 90% of americans seem to be unaware of this. million americans receiving disability benefits. 47 million on food
Al Jazeera America
Dec 4, 2013 11:30am EST
. which means by the time she starts school she is already behind and that deficit can compound itself over time. and finally, rising inequality and declining mobility are bad for our democracy. ordinary folks can't write massive campaign checks to tilt policies in their favor at everyone else's expense. so people get the bad taste that the system is rigged, and that increases cynicism and polarization, and decreased the political participation. so this is an issue that we have to tackle head on, and if in fact the majority of americans agree that our number one priority is to restore opportunity and brood based growth for all americans the question is why has washington consistently failed to act? i think a big reason is the myths that have developed around the issue of inequality. first there's the myth that this is a problem restricted to a small share of predominant minority poor. this is a black problem or hispanic problem ornatetive american problem. now it's true that the painful legacy of discrimination means that african-americans, latinos, native americans are far more
Al Jazeera America
Dec 10, 2013 6:00pm EST
deficit reduction. so the deficit will go down more by passing this than if we did nothing. that's point number one. point number two, there are no tax increases here. point number three, we're finally starting to deal with auto pilot spending. that mandatory spending that has not been addressed by congress for years. this isn't easy. this is the first divided government budget agreement since 1986. the reason why we haven't done a budget agreement when both houses were controlled by other parties since 1986 is because it's not easy to do. we're not going to get everything that we want and she's not going to get everything that she wants. >> what if they reject it. >> i think we'll pass there though the house. we'll go first given our schedules. we'll post this on our website this evening and we intend to bring it to the house floor later this week. i have every reason to expect great support from our caucus. we're keeping our key principles. no one here had to sacrifice their core principles. our principles are don't raise taxes, reduce the deficit. we also have a lot of concerned
CSPAN
Dec 8, 2013 5:45pm EST
between short-term deficits and an structural deficits. the short-term deficits largely were inherited by the rock obama -- barack obama and we need to understand its short-term deficits are understandable because we are in a recession and we have to undeclared wars and a number of bailouts and unemployment is very high. so he made it very clear that he wants to try to take the steps to try to get the economy going on in consistent basis and bring unemployment down. he is going to propose a number of tax cuts or tax preferences as well as spending increases to try to do that and that may exacerbate the short-term but then he pivoted which i think is important to talk about the structural deficit. and that is what threatens the state. it's not the ice that is above the water. it's the ice that is below the water. it's not the debt on the balance sheet, it is what is off the balance sheet that disrupts the future and he talked about three things, he talked about freezing a portion of discretionary spending, less than 20% of the federal budget for three years. three years is bet
FOX News
Dec 10, 2013 3:00pm PST
deficit by $23 billion and it does not raise taxes and it cuts spending in a smarter way. from the outset, we knew that if we forced each other to compromise a core principle we would get nowhere and that is why we decided to focus on where the common ground is. and so that's what we've done. that means to me a budget agreement that reduces the deficit without raising taxes and replaced the around terrorory -- the arbitrary across the board spending cuts to pay for this relief. the house budget reflects our ultimate goals, it balances the budget within ten years and pays off the debt but i realize this is not going to pass in this dividended -- divided government. in divided government, you don't always get what you want. that said, we can still make progress toward our goals. i see this agreement as that kind of progress. it is a step in the right direction. and so the arbitrary cuts, we make smart, targeted reforms and eliminate waste, stop cutting checks to criminals an we start to make real reform that were drivers of the debt in the first place. i think the agreement is a clear impro
Bloomberg
Dec 6, 2013 1:00am EST
news regarding the fiscal deficit is only cyclical. get us growth slowdown going forward, we might not see the fiscal contraction of the deficit that we really need. essentially our spending habit 's have not changed that much. we have been in austerity for so long, it was a shame that it was not more structural change. >> what does it mean for sterling capitol when you look at the top 10 currencies. this is against the other nine. can its strength continue. >> it depends on the bank of england. if it threatens the inflation target of two percent, we have target. inflation and this could force the hand because the strong pound could all of a sudden having a real problem of their policy. now, there is a real threat of that sum will push this into deflationary territory. is that real concern for the bank of england? >> it is not on their forecasts at the moment that we have seen such a huge appreciation of sterling already. at 164 level does look very sticky. it will take a little to push us up there. if we were to see a 500 moving. >> thank you. we will get her thoughts on the ecb.
CNN
Dec 6, 2013 3:30pm PST
republican obstructionists who worked hard to shut down the government, folks with the national deficit dropping at its fastest rate in 60 years? it is time to stop the obsession with deficits and start an obsession about middle-class job creation. >> well, governor granholm, i'm going to give the president credit for these numbers -- >> stop the presses -- >> but this nation is still woefully unemployed. he has to take credit for that, too. i know his numbers could not have come at a better time for an administration that's had a rough couple months. in the crossfire tonight, a pair of economic experts, david madlin director of the american worker project for the center of political progress. >> and david, let me start with you. even though this morning's jobs numbers sound really good. a lot of people are just giving up and stopping looking for jobs. they're going on disability. the dependency on government has absolutely ballooned until this quote/unquote recovery. i think folks in your camp want more dependence on government, yes? >> no, we want jobs. >> but how dots there? >> in fa
Bloomberg
Dec 5, 2013 1:00am EST
understand. there could be a kind of 1% on gdp. these upgrades are critically and reduction of the deficit. he would reduce the deficit by 10%. the hope is he can do more on that. have a lot of married couples and free school meals for kids. of course, the tapering with energy -- what will the impact be? [laughter] >> we would not want you to be chilly. that was manus cranny live from westminster. we will bring you a speech -- osborne's speech live. >> the ecb will publish its decision following last month's surprise rate cut. focus will be on mario draghi. here witherro is details. >> it is hard to follow manus cranny. [laughter] let's talk about these forecast. a reason many people thought they would cut a rate this month and not last month. the rate cut would come with the company forecast. what we will get is something as bright as the u.k.'s forecast. they currently predict one percent growth for next year at inflation is at 1.3%. that is well below the 2% target. it is important. it might sound a long way off. we know that dally on swift guidance -- dalliance on guidance -- you might
LINKTV
Dec 9, 2013 2:30pm PST
exceeded our receipts. why did this payments deficit occur? dr. joan spero, senior vice-president, corporate affairs at american express. a payments deficit emerged in the late 1960s for three fundamental reasons. the u.s. economy was heating up due to the war in vietnam and due to expenditures on the gat society, and had inflaon at home. as the dollar became overvalued, we began to suck in more imports and we began to export less in relation to imports. so we went into "balance of trade" deficit, finally, in 1971. and the third factor is the capital outflows from the u.s., which continued throughout the 1960s for investment reasons and for financial flows. schoumacher: where a decade before there had been an international dollar shortage, now the world faced a dollar glut. this overwhelming supply of dollars piled up in the vaults of foreign central banks. these banks began to redeem dollars for american gold. between 1964 and 1966, u.s. gold reserves dropped by $2 billion. e u.s. really d not know what to do about the dollar in the late 1960s, and the europeans didn't know eithe
CSPAN
Dec 9, 2013 1:30am EST
recommended by the imf with reduced short-term deficits and your obligations so that you can recover faster. a number of ministers, including the health minister, resigned in this includes a number of other social safety nets rather than this for a politician. and over the first time in 1944, they had a country wide vote with all these other things to put it to a vote. so even though it was more than 800% of gdp, a small group of people have invested all the money in mortgage-backed securities. and so we have two options in one is to cut the social safety net obligations and pay this back all the foreign creditors and the other option is to do a loan repayment program and while preserving our safety nets at home and most people had understandably been a part of the second one. and this includes a public health and it was essentially a fact. some indicators were slightly improved, like sweet quality and there was no increase in suicides, we just couldn't find anything among four different groups and there is only one blip and there was a sudden spike in emergency room visits. it turns out th
MSNBC
Dec 3, 2013 2:00pm PST
structural deficit through chapter 9 bankruptcy. but as the court ruling showed, it was rushed into bankruptcy. governor schneider did not use bankruptcy as a last-ditch effort to save detroit. he used it as a first-ditch effort to make sure his buddies on wall street get paid first. the banks are at the front of the line, with their hand out, looking for the money that detroit generates. detroit is not broke. detroit generates nearly $2 billion in revenue in tax revenue every year. not only that, the governor had his eye on the pension fund, since he got into office. so, you know, for us, we pay taxes, because we want services. kevin orr does not understand how to deliver that service. he does not understand how to run a city. he understands how to take companies through bankruptcy. >> yeah. >> and if anybody thought that anything but bankruptcy was going to be the outcome when jones day and kevin orr is there, and then they hire all the consultants that come in from wall street, myers brinkerhoff gobbling up $5 million a month in tax revenue from the citizens of detroit and not pu
Bloomberg
Dec 8, 2013 8:00pm EST
abenomics as of yet. >> what was the reason for the unexpected deficit here? are people saying this is likely to go on? >> the current account deficit was larger than expected -- it was expected to be quite small. the real reason was the weaker yen boosting the cost of energy imports and exports of cars and other products not keeping pace with that. japan's trade deficit is continuing. -- current-account deficit people are saying there is not going to be a permanent one but the trade deficit is going to continue for the foreseeable future. some economists have said the import ahead of the sales tax rise -- people are importing more housing materials and other products because people are expected to by those in the next five or six months. factor another temporary which is causing this deficit. >> thank you, james. down going to be breaking the latest economic data from china. ."ming up next on "on the move ♪ the scene at the moment at the imperial palace in tokyo. we had some weaker than expected growth. 1.9% up.economists say a weaker yen just above the 103 level helping exporter
MSNBC
Dec 10, 2013 3:00pm PST
jobs in our country. this deal builds on the $2.5 trillion in deficit reduction we have done since 2011 and continues the precedent we set in the fiscal cliff deal that sequestration shouldn't be replaced with spending cuts alone. this bipartisan deal will help millions of american bs who were wondering if they were going to keep paying the price for d.c. dysfunction. from construction projects who were laid off. to the kids who lost spots in head start programs. to the seniors wondering if they were going to have meals on wheels. to the families praying for halted medical research programs to get back to work on a cure and so much more. because of this deal, the budget process can now stop lurching from crisis to crisis. by setting bipartisan spending levels for the next two years, this deal allows committees to proceed under regular order to give them the certainty they need to hire workers and make investments. this isn't the plan i would have written on my own, i'm pretty sure chairman ryan wouldn't have written it on his own. and there are obviously differences between our parties
CSPAN
Dec 9, 2013 12:30pm EST
went into effect earlier this year and replace the savings so it wouldn't add to the deficit by increasing some government fees and perhaps requiring a higher contribution from federal workers for their retirement program and maybe about a 65 to $70 billion deal. it wouldn't be a deficit reduction deal, but it would, it would be an agreement on the level of discretionary spending or the appropriations bills for the next one or two years. >> host: and talk to us about scale. is the a large deal? is it a small deal if how does this kind of fit in our range of options? >> guest: this is not what you would call a grand bargain. it's a small deal. they deliberately set a pretty modest target because they thought something more ambitious wouldn't get done. so in the effort of finding some sort of an agreement for this year, this year's appropriations level and possibly it looks like next year's, they would just target that and see if they could reach an agreement on that, and that's kind of where we're headed. >> host: talking about the prospects for a budget deal this morning with th
CSPAN
Dec 10, 2013 10:00am EST
effect the increasing trade deficit with south korea has cost the u.s. at least 40,000 jobs, most in manufacturing. any impact study must be straightforward, reliable, and provide specific information on each trade agreement's impact on u.s. jobs by industry, geography , wages, and benefits. this precise information cannot e gleaned by merely estimating job numbers. from export valuations the way it is currently done. congress and the american people have every right to know how trade agreements have been and ill be affecting their jobs. secondly, congress must assert its role in choosing our trade partners. congress should define specific conditions that must be met for any potential trade agreement partner. these conditions should include a number of factors including an examination of weather a country currently recognize -- whether a country currently recognizes and enforces fundamental human rights, like the right to form a union and engage in collective bargaining. reflected by the i.l.o. conventions and juries prudens. it -- jurisprudence. it should also include basic informat
PBS
Dec 3, 2013 6:30pm PST
often protected and many nato member states are sitting in silence oh five deficit the military training areas throughout europe and north america are among the richest and most important sites will find deficit the often because they are that it's not open to the general . but also because environmental awareness and whites tactical use of natural resources is encouraged among soldiers military training areas are increasingly recognized as sites of hype by a diversity large numbers of threatened and endangered species exports from india its beans and nine. listen to it in fooling you into watching it in two thousand that the ufc is the main import of indian spices contributed sixteen points and up until the next week that you like dirt bikes i know that nine percent annually and maybe share each week six but since it's sunday a baby on the menu she jumped on singapore and the uk i don't need to destinations for beginning sports it is at the european union to open them on this amenable to the ongoing suffering debt crisis and four great books despite these problems from the outs
Al Jazeera America
Dec 9, 2013 7:00pm EST
going to sink our economy. plus, the annual deficit is dropping fast. according to the congressional budget office. in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. homeowners, one minute home he is. what is going on. talk rabbiting numbers we have more homeless school age kids in america than ever before. >> right. >> so we have to have a whole new conversation about american
Al Jazeera America
Dec 10, 2013 3:30am EST
not going to sink our economy. plus, the annual deficit is dropping fast. according to the congressional budget office. in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. [ singing ] >> a day of remembrance and celebrations. tens of thousands gather to honour the life of nelson mandela. >> hello, i'm here at the f.n.b. stadium in soweto, where the world is paying its respects to nelson mandela. >> hello, live from doha withage of the memorial service. more than
SFGTV2
Dec 3, 2013 12:00pm PST
have an ally in me. the budget is the most eminent issue, and we do have a structural budget deficit in the city, so we need to deal, of course, with the short-term balancing our budget in a way that does not decimate city services that people rely on, but also to address our long- term structural budget deficit, and that means implementing some budget reforms. smooth out our budget process so it is not a boom/bust kind of budget. reforming our pension system and retiree health care system so that they are stable. we do a decent job providing low-income housing. we do a terrible job providing housing for low or middle class and middle-class people, people who are working and paying taxes that we need to have here for a functioning economy, so i am looking for ways to try to fund that, particularly for essential employees like teachers, nurses, first responders. projects coming up in the city like the renovation of dolores park, which is a once in 50 years opportunity to define what the park is and what changes we want to make to it. that will be a very significant projects. [inaudibl
Bloomberg
Dec 5, 2013 4:00am EST
this time, the forecast was that the budget deficit would be 60 billion pounds. it is 120 billion pounds. that was supposed to start coming down in 2015. it will not peak until two years later. the fact that the economy has not recovered as fast as projected has caused the budget deficit problem to become much worse than it would've been had the economy grow faster. you might say that was just bad luck. i think the slow recovery, almost lack of recovery for two years, was a result of the austerity policy. a recovery,we have does austerity make more sense? placet faith can we in the new forecast? we were supposed to grow two point four percent this year. it will be about 0.8%. >> they are revising the incomes around 1.5%. >> ok. things are improving. then you go forward to the next year in the year after. then you have to ask what are the drivers of a broad-based recovery going to be? i think that it is very narrow. prices, assets, and some parts of the country. >> the government has announced plans to spend more on infrastructure. do you welcome that? haveat's what it should been.
CSPAN
Dec 10, 2013 4:00am EST
agreement took effect the increasing trade deficit with south korea has cost the u.s. at least 40,000 jobs most in manufacturing. any impact study must be straightforward, reliable and provide specific information on each trade agreements impacts on u.s. jobs by industry, geography, wages and benefits. this precise information cannot be gleaned by merely estimating job numbers from export.relations the way it has currently done. congress and the american people have every right to know how trade agreements have been and will be of acting their jobs. secondly, congress must assert its role in choosing our trade heart nurse. congress should define specific conditions that must be met for any potential trade agreement partner. these conditions should include a number of fat ears including an examination of whether a country currently and enforces fundamental human rights like the right to form a union and engage in collective are gettino conventions jurisprudence. they should also include basic information on whether country manipulates its currency. violates environmental standar
Bloomberg
Dec 5, 2013 3:00am EST
it has been the first time in a number of years. talk about a deficit. we will see if we have anything that has not been leaked to the market. we have a statement and there is a bit in this statement. joining later with the details. >> we have the forecast from the ecb >> it is higher. do not expect that from the ecb. the rate policy could go and it surprised everyone. is that the ecb has more work to do. >> we have corporate news. >> keep a look on the luxury markets. it could go a little bit higher. shares and weo .5 see it down. it is more luxurious. it is dependent on europe. and it is in the wholesale market. you let's go to our international correspondent. gaining mobile may be state approval for a new license. that could mean assets and 8 million subscribers. the next month, the iphone is on sale. >> thank you so much. a center and a stamp of approval from regulators in china. general motors is rolling chevrolet. out andputting a note charges 700 million in to the european companies. it is focusing on this. we will have more on this car sector later today you have the s
CNN
Dec 4, 2013 3:30pm PST
response way, reduce the deficit. those are precisely the things that he accomplished, so i'm pleased to know you agree. >> the difference quite simply is after five years, he still has not learned how to reach across the aisle. he was willing to sit down -- >> i've said this before, and i guess this is a tribute to you. you were a different kind of speaker. you were able to bring your caucus along, and get things done. >>> congressman, i'm sure you have a lot to respond to. >> yes, i do. very specific question. u ubs. >> do you great deal that inequality is a problem? >> yes, it's getting worse. you would think they weren't in power. the fact is the democrats have the house and senate. they did a $787 billion stimulus plan, the cash for clunkers, all these things that didn't grow the economy. they exacerbated the problem. we have literally more than 66,000 federal workers on the federal payroll. the deficit has just exploded. the pope actually blamed income and equality, and rush limbaugh quickly denounced the pope saying, quote, this is just pure marxism out of the mouth of the pope. w
CNBC
Dec 6, 2013 7:00pm EST
little long-term deficit reduction and there remains a sticking point over unemployment benefits and republicans don't believe the democrats are entirely serious about that. it's come up late in the process. not sure if the white house is going to insist on that happening. another potential sticking point may be whether or not there's any long term deficit reduction in the deal if they just raised the sequester caps and substitute one set of cuts for the other, there wouldn't be deficit reduction. there's some talk that the revenue components would be dedicated to deficit reduction. but we have to wait and see happens next week. this congress is unpredictable. >> house defense chairman buck mccann, he wants $20 billion more, because defense gets killed in the sequestration. he has defense hawks that will vote against it if they don't get their $20 billion and that means john boehner doesn't have 218 votes. >> he may not have 218 votes, but look, any accommodation you make like that from -- to assist the defense is going to squeeze the other end of the balloon which is domestic. you a
Bloomberg
Dec 9, 2013 6:00am EST
. washington, our chief washington correspondent. you want to talk about the deficit. this will not go away. are people actually concerned about high deductibles? >> you certainly have a lot of republicans who will talk about it. there talking about the problems with healthcare.gov and they are also talking about the way the rubber meets the road. the prices that they are paying for premiums that are out there and the deductibles are going up as well. this is another talking point for them. they have criticized the health care law. we will have several members on capitol hill and this is one of the questions they will have to answer. rollout, theo the website is operating better. they will make this point over and over. >> lawmakers actually have a deadline of their own to sign up for the affordable care act. how is that going? >> there is actually a different website. technically, they are members of a small business. that is the congress of the united states. they are operating off of the d.c. exchange. the deadline is december 23. december 9 is the deadline for members of congress unders
CNN
Dec 10, 2013 2:00pm PST
are eating away at the country's economy, the debt and the deficit. but it is a deal. it's something that we haven't seen in a very long time. >> and it will keep the government going. there won't be a shutdown. >> reporter: that is really a key. we have not seen anything that has gone down to the wire in a long time. what are we talking about? . we'll just go through some of the details. it is going to eliminate the arbitrary forced spending cuts for two years and instead allow congress to choose the cuts. again, it won't be arbitrary. >> the so-called sequestration. >> reporter: how are they going to do that? they're going to pay for it with an increase in airline travel fees and an increase in the worker contribution to federal pensions. so that is the outlines of the deal. it's not global. it's not going to really attack the debt and deficit, but it is going to keep the government running and address some of the concerns by democrats and republicans about these forced spending cuts. republicans were upset about it because it ate too much into defense. democrats because it ate too
Al Jazeera America
Dec 4, 2013 8:00pm EST
of life and what we stand for around the globe. >> president went on to say that a so-called deficit of opportunity, interesting phrasing there, is much more important than the fiscal deficit, the yearly fiscal deficit in this country which he points out is actually shrchging in his administration john. >> point out, this issue about the young people are disappointed with president and congress. >> part of the obama coalition that got him elected twice is young people, so-called millennials. folks at harvard has a unit that polled these folks. 18 to 25, bad news for the president, festival his approval rating down to 41%. that is a reflection of the population at large but down 11% since just this spring. and john earlier the president did some work to shore up the forecast, the so-called -- shore up the rveght affordable care a% of millennials disapprove of the affordable care act. have no plans to sign up. that's disappointing news. >> the numbers behind inequality could be surprising for many. jonathan betz has a closer look at what the president says is an economic inequality gap
MSNBC
Dec 4, 2013 8:00am PST
deficit can compound itself over time. and finally, rising inequality and declining mobility are bad for our democracy. ordinary folks can't write massive campaign checks or hire high-priced lobbyists and lawyers to tilt the playing field in their favor at everyone else's expense, and so people get the bad taste that the system is rigged. and that increases cynicism and polarization and it decreases the political participation that is a requisite part of our system of self-government. so this is an issue that we have to tackle head on. and if in fact the majority of americans agree that our number one priority is to restore opportunity and broad-based growth for all americans, the question is why has washington consistently failed to act? and i think a big reason is the myths that have developed around the issue of inequality. first, there is the myth that this is a problem restricted to a small share of predominantly minority poor. this isn't a broad-based problem, this is a black problem or hispanic problem or native american problem. it's true that the painful legacy of discrimina
CSPAN
Dec 9, 2013 2:00pm EST
. this happened with the sequestration, a smart savings. reducing the deficit by closing wasteful tax loopholes and making job-creating investments to spur economic growth. as we close out this year, i hope republicans and democrats can put aside our differences and work together to produce results for the middle class. mr. president, the presiding officer has served in the house. i've served in the house. ii'm fortunate to serve here in the senate. mr. president, when i first came to this body, democrats had their focus on what they thought the foundation of democracy was. the republicans did the same. they thought they knew the right thing to do. but you know, mr. president, we could never get what we wanted. each side couldn't get what they thought was the way it should be. so what did we do? we worked together and came up with compromises to move legislation forward. let's get back to where we were. that's what this body needs. so, i hope we can put aside our differences and work together like we used to. it's also time for republicans to work with us instead of against us to make
CBS
Dec 8, 2013 6:30am EST
cut the deficit. >> we're putting the money in the wrong place. >> we're honoring the legacy of nelson mandela today and the apartheid movement that he led. and it was built over time and you'll see the same thing happen with minimum wage. ten states, including washington d.c. have higher wages. >> let the states test it. >> obama administration care rebound. the president defended the affordable care racket act. he told the republicans if they have a better plan, let's hear it. >> if you don't like obamacare, and i know you don't, you should explain how exactly you would cut costs and cover more people and make insurance more secure. you to the morning people to tell us what you are for not just what you're against. >> is this a diversion tactic. >> yes, no question they would rather have the media focus on that the republicans don't have a plan. you had 29,000 people signed up which was more than all of us. a hundred thousand in november so they're much happier about the way it is going. but they would love it the if the media pointed out that the republicans don't have a plan
CNN
Dec 5, 2013 2:00am PST
deficits and pledging to fight the deficit of opportunity for the poor and middle class. in a speech wednesday on his economic priorities, the president said the federal deficit is under control and doesn't present a serious threat to the economy. he focused on the gap between the rich and the poor and making the case for raising the minimum wage to more than $10. while extending unemployment benefits. >> we know that we're going to have greater and greater portion of our people in the service sector and we know that there are airport workers and fast food workers and nurse assistants and retail salespeople who work their tails off and are still living at or barely above poverty and that is why it's well past the time to raise a minimum wage that in real terms right now is below it was than when harry truman was in office. >> republican leaders quickly took issue with the president's poach. house speaker john boehner suggesting the president's policies created the very problems that he described. >> meanwhile republicans and democrats are trying to hammer out a budget deal to avoid a
SFGTV
Dec 8, 2013 6:30am PST
because of the structural deficit in the budget. it's not the result of over spending it's the formula that's used that discount the budget that's allocated for personnel. it has to do with having four attorneys with their salaries and the summation that they're at everyone is at mid point with having investigators who are very experienced in the soumgs their salaries are at mid point. that's the problem that i have it's not just the occ there are other departments but when you're a small department it's extremely problematic >> thank you. is there anything we can do? >> well - (laughter) the board of supervisors has the authority to amend the budget but also the - it is what it is my budget is what it is so - >> thank you. anything you further for director hicks. please call commission reports >> commission reports and commissioners president report. >> i had the privilege of watching part of the bad kid thing and it representative to me i know it represented the heart of the city and cohesive what we did for that little boy. we had a great celebration but nothing better than a kid wh
FOX Business
Dec 3, 2013 10:00pm EST
is a huge financial burden, a huge problem that is going to blow our budgets and our deficit apart. that is what the american people are looking at command that is why, you know -- lou: they are not looking at that, if i may. you know, they may, as they read your book, as they listen to dr. brown and his colleague, but the reality is, they're looking at a train wreck. thexpression was ud to describe the website. it is so monumentay massively more than that that it is incomprehensible. the number. $17 trillion. 9 million people added to the medicaid rolls. we are looking at an explosion of entitlements and debt and possibly devastation to the deficit and to the country if we don't get in charge of it. >> you are absolutely -- >> this president seems to have no sense of what to do. i will give you the last word here congressman, but it sms the republicans don't have the answers either. >> you are absolutely correct. it is monumental. needto be totally ripped out by the roots and replaced with something such as my patient option act. we do have some republicans and democrats that want
CSPAN
Dec 1, 2013 10:25pm EST
bilateral trade deficit from one quarter to another quarter. deficit me time, the with korea may have increased colombia and th panama also implemented around the same time have gone up dramatically. goes to the g differential growth rates in the various economies. we're can do is make sure reducing the barriers and the exports have a chance to compete field. vel playing >> get closer to home and talk about congress. here was a bit of a backlash that brewed last week about the trade negotiations. have you anticipated the fight ahead in getting everything approved. >> we've been talking to throughout these negotiations. the -- the formal process called trade promotion authority expired in 2007. that's a process every congress 1974 ery president since have worked on together. it's the process where congress what your xecutive negotiating objectives are, how to look with congress in the procedures and the under which congress will approve or disapprove a trade pac when it's done. the consultation procedures of 2007 trade promotion authority expired, we felt bound by them, we've been oper
CSPAN
Dec 9, 2013 7:00am EST
add to the deficit by increasing some government fees and perhaps requiring higher contributions and maybe a workers 60 52 $7 billion deal. it would be an agreement on the level of discretionary spending or the appropriations bills for the next two years. is this a large or small deal? caller: this is not what you would call a brain -- a grand bargain. they deliberately set it pretty modest target. finding some of sort of agreement for this year, this year's appropriations levels and possibly next year year's, they would target that. talking about the prospects of a budget deal this morning. you are welcome to join our conversation. democrats -- this weekend rob -- talked about the prospects of a budget yield and affording a government shutdown. [video clip] >> can you get an extension if you -- can you get an extension if it is paid for? >> that is $25 billion nobody was talking about until last week. it is an additional cost within this budget agreement. i'm glad to hear my colleagues say that it is not necessarily a sticking point. i think there are different ways to look at it. t
PBS
Dec 9, 2013 6:00pm PST
a no go said unions would stop by the deal would address concerns i have a budget deficits in the company's pension scheme the appeal. it could end up going to build up in the defined benefit scheme. i was a critical of any leaves that will be that is the necessity of industrial action. that's a relief to be put into deals. what we had to take action to defend the members' rights we did so with honesty of comics ftp and we want. my sisters and friends know can expect to his beliefs but its effect to say the boppy have now is that it's a sort of opposing piece that went to st nicks and china. i mean secondly the unions did get an acknowledgment from the esb that this is a defined benefit scheme that was important than people in acknowledgment that if the deficit doesn't rise in future it to be hunted in the way it has been upped to head up to now a restoration of the status quo if you like what is on here is what impact this is going to hop on the esb accounts because the esb issued a statement last night saying that it would result in no additional liability on the esb on etsy now
CSPAN
Dec 5, 2013 3:00pm EST
want to include savings from the farm bill as part of deficit reduction or sequester replacement even though they called for that in their budget. what they are saying is that do not want to take away some of those big agriculture subsidies as part of this effort. they would rather pick on middle income taxpayers. we believe when you are replacing a sequester, you need to do it in a way that calls for shared responsibility. finally, as the leader said, wo ay's after christmas -- days after christmas unemployment compensation for millions of americans runs out. one woman testified that she lost her job because of the sequester. she worked in a biotech company and because of the cutbacks in places like nih, she lost her job. she has been looking hard for a job and cannot find it. she has a stack of letters two feet high in terms of her job applications. these are hard-working people who have been working hard, lost their jobs, are still looking every day, and the final point i want to make about that is it is not only the right thing to do to help those families, but it is the right thi
CNBC
Dec 2, 2013 4:00am EST
raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the fight for efficiency in all the governments around the world is a hard fight. we know now things we didn't know before about how to do it because we've been doing it for quite a while. this is why things are better now. i think we're going to have a new fiscal rule which will allow us to reduce government expenses in a way that will allow us not to raise taxes. >>ing where do you see that in order not to raise taxes in 2014, 2015. >> i can tell you we're not going to hurt the budgets of education because we are an education modulated government and of course health and welfare. these are the budgets that we are goin
CSPAN
Dec 5, 2013 9:00pm EST
six years ago. we have never had anything close to such a sustained job deficit after any recent downturn. it has been said in opposition to an extension that the federal emergency unemployment compensation program was adopted for extraordinary circumstances that are disappearing. no. no. these extraordinary circumstances continue, as indicated in the report issued just this morning by president obama's council of economic advisers. it highlights that the current long-term unemployment rate is at least twice as high as it was at the expiration of every previous extended ui benefit program. the extraordinary circumstances continue. the report also sets out the economic impact of a failure to act. it agrees with cbo and other economists. allowing the federal ui program to expire will cost our economy at least 200,000 jobs next year because of reduced consumer demand. for this congress to ignore the national economic impact would be shortsighted. to ignore the human, the individual human impact would be coldhearted. that is not the better nation -- the better nature of our nation. i
CNBC
Dec 5, 2013 4:00am EST
retreated to a seven-week low after the country posted a bigger than expected trade deficit in october. but india as performed opposed strong opposition. now for individual movers, chinese telecom equipmentmakers succumbed to profit taking. zte tumbled almost 6%. meanwhile datang telecom down almost 7%. just one day after the issuing of these licenses, a deal is signed between apple and china mobile. according to "wall street journal," this could mean china's largest telco could start to offer isos on its network to 700 million subscribers. it could potentially draw a larger custoday. it's competitor gained 0.25% in china telecom. back to you, ross. >> thanks very much for that, sixuan. carl icahn announcing a tweet that he would submit a proon posal to apple shareholders for a 50 billion buyback program. that's lan than the 150 become buyback program he was previously pushing for. >>> well, we have heard from the japanese economic minister, amari, it was he's been with early stage tongue cancer. he's offered to resign, but the prime minister has refused his request. he remains in the
FOX Business
Dec 5, 2013 4:00pm EST
of the problem. other is over longer term we have to get the trade deficit down which means getting the dollar down. we're shipping $5 billion worth of demand overseas, money earned here, spent in europe, china, demand, whatever. it is very hard to fill that gap. we did that in the last decade with the housing bubble. that is not a really good way to go. i would put the emphasis down to get the trade deficit close closer to balance. liz: you think the weaker dollar is better. exports looked not certainly so bad. exports were up. people are buying our good overseas. >> well, it was some improvement but we actually revised down the previous numbers, previous month ace numbers. so it wasn't much of an improvement. we have a ways to go. we have a deficit of 500 billion. maybe we're moving in the right direction but if so, very slowly. we have to pick up that pace. liz: precursor to the government's jobs number report, adp, came out yesterday. look better than expected, 218,000 jobs created what are you expecting from the labor department tomorrow? >> i will be a pessimist, 141, 50. last
FOX Business
Dec 7, 2013 6:00pm EST
our long-term death of deficit. neil: the amount of money that we are committing, and the top that we are talking about, you're right about the improvement and things will snap back into place when the economy and the covery snaps back into place. but right now it is untenable. >> in terms of relaxing standards, some of this is -- for example, someone will have to qualify for work in order to get this. that seems lke a good policy to me. >> i agree with that, but there's a lot of pride fraud in the program and that is indisputable. and the people on both sides have their own opinions. let me finish. you will from both sides want to help the poor out. everyone wants to help the poor out. help them, give them a job. the problem is there is abuse of the system that is being underreported and understated by the democrats who are basically saying that it's nonexistent. i totally disagree with that. >> the studies say that the fraud rate is very low. >> it is misrepoported. >> it's not just for families. >> yes, it is. the fraud report has a problem. and here's the problem with the fraud ra
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